Horizon Technology Finance (NASDAQ:HRZN) Stock Gets Price Target Reduction from UBS Group

by · The Markets Daily

Horizon Technology Finance (NASDAQ:HRZN – Free Report) had its price objective cut by UBS Group from $4.50 to $3.75 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

HRZN has been the subject of a number of other research reports. Oppenheimer reduced their price objective on Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Friday, August 7th. B. Riley Financial dropped their target price on Horizon Technology Finance from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Tuesday. Weiss Ratings cut Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods cut their target price on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a research note on Friday, August 21st. Finally, Compass Point assumed coverage on Horizon Technology Finance in a report on Thursday, August 27th. They set a “buy” rating and a $5.50 price target for the company. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.65.

Check Out Our Latest Research Report on Horizon Technology Finance

Horizon Technology Finance Stock Performance

Shares of HRZN opened at $3.76 on Tuesday. The stock has a market cap of $244.89 million, a PE ratio of -5.01 and a beta of 1.00. Horizon Technology Finance has a fifty-two week low of $3.70 and a fifty-two week high of $6.78. The firm’s 50-day simple moving average is $4.39 and its two-hundred day simple moving average is $4.68.

Horizon Technology Finance (NASDAQ:HRZN – Get Free Report) last announced its earnings results on Thursday, November 5th. The investment management company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Horizon Technology Finance had a negative net margin of 57.42% and a positive return on equity of 10.31%. The business had revenue of $24.06 million during the quarter, compared to the consensus estimate of $25.12 million. Equities research analysts predict that Horizon Technology Finance will post 0.64 EPS for the current year.

Horizon Technology Finance Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 16th. Shareholders of record on Thursday, February 18th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 19.1%. The ex-dividend date is Thursday, February 18th. Horizon Technology Finance’s dividend payout ratio (DPR) is currently -96.00%.

Institutional Trading of Horizon Technology Finance

Institutional investors and hedge funds have recently modified their holdings of the business. Green Alpha Advisors LLC bought a new position in shares of Horizon Technology Finance during the second quarter valued at $2,033,000. Legal & General Group Plc purchased a new stake in shares of Horizon Technology Finance during the second quarter valued at $1,821,000. Bank of America Corp DE bought a new stake in Horizon Technology Finance in the 2nd quarter worth about $1,068,000. BlackRock Inc. bought a new stake in Horizon Technology Finance in the 2nd quarter worth about $856,000. Finally, Corient Private Wealth LP purchased a new position in Horizon Technology Finance in the 2nd quarter worth about $423,000. Institutional investors own 4.94% of the company’s stock.

About Horizon Technology Finance

(Get Free Report)

Horizon Technology Finance Corporation is a specialty finance company that provides loans and growth capital to venture capital-backed businesses, particularly companies in the development and expansion stages. The company focuses on sectors including technology, life sciences, healthcare information and services, and sustainability. Its financing products primarily include secured loans, and it may also receive warrants or other equity-related interests as part of its investments. Horizon operates in the United States and is externally managed by Horizon Technology Finance Management LLC.

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